SoylentNews is people
SoylentNews
Someone gave me 0.990 LTC a week or two ago. At the time that was about $54.00. It has since gone up to about $60.
I bought $60 each of BTC and ETH, paid for with EFTs from my business checking account.
BTC went way down today doubtlessly due to some burglar bragging that he just stole $32,000,000.00 worth of bitcoin by hacking into digital wallets.
CoinBase offers USD wallets if you're down with uploading pix of the front and back of your ID. So I can no longer use CoinBase for money laundering.
The great advantage of the USD wallet is that the transactions take place immediately, rather than having to wait seven days as happened with my EFTs. The price was locked-in when I ordered the purchase but I wasn't permitted to trade the ETH or LTC for over a week.
Now I have BTC 0.0253 that just now is worth $169.15.
My code is going to go beta by the middle of next week. That means I get paid. I'm going to buy one BitCoin - presently that costs $6,682.00 - as well as a mining rig.
The reason I'm doing this is that I have no other hope of funding a decent retirement. Even if I contribute the maximum of $6500 - the "catch-up" rate for people over 50 - until I'm 65, my retirement will have me living like a starving artist through all of my golden years.
So I'm speculating on cryptocurrency. Even if I lose it all, my retirement won't really be any worse than I presently foresee it.
I might form a 501(c)3 tax-deductible non-profit corporation to operate Soggy Jobs. If I do that I could give myself the employment benefit of a 401k, which will enable me to contribute about three times as much as my IRA permits.
I'm soliciting donations but they're not yet tax-deductible.
Google.org exists to give money to charities. I expect I can make a good case for contributing to soggy jobs. There are many philanthropic organizations; if I do form the non-profit I'm going to work with a grant writer to get me some of those Samoleons.
(Score: 2) by MichaelDavidCrawford on Saturday November 11 2017, @07:58AM (5 children)
I can't speculate very aggressively because CoinBase charges $2.99 per transaction.
I have a friend who used to be a day trader. He found it cripplingly stressful, and didn't make any more money than he'd make at a regular job. So he quit trading and got a regular job. He's quite happy now.
I can be obsessive to the point that I need to be in a nuthouse. To keep the stress down I am committed to trading no more than twice per day, once before I leave for work and once after I get home.
Yes I Have No Bananas. [gofundme.com]
(Score: 2) by Nerdfest on Saturday November 11 2017, @02:56PM
Seems to me BTC is in a bit of a bubble, but I have no real data to back that up.
(Score: 3, Insightful) by Snow on Wednesday November 22 2017, @10:19PM (3 children)
Some advice: Don't day trade. Pick your asset, and hold based on the fundamentals.
I've seen too many people get rekd day trading crypto.
(Score: 2) by MichaelDavidCrawford on Thursday November 23 2017, @01:47AM (2 children)
I'll hold it at least two years so as to qualify for long term capital gains
Yes I Have No Bananas. [gofundme.com]
(Score: 0) by Anonymous Coward on Thursday November 23 2017, @06:32PM (1 child)
So you want to make a long-term investment based on a short-term price spike. Uhh, Ok. Your money, not mine.
(Score: 2) by MichaelDavidCrawford on Thursday November 23 2017, @11:48PM
_speculate_ now: I would do OK if I lost all that money.
The reason I believe it will continue to rise is that the traditional investment community is just starting to get into it, but I don't see irrational exhuberance yet.
When the rationality is gone I'll sell.
Yes I Have No Bananas. [gofundme.com]